History

In June 1920, the total value of the New York State Railway Corporation franchise in Syracuse as determined by the New York State Tax Commission was $2,320, down from $2,407,000 in 1919.

Patronage on the streetcar and interurban lines declined in the 1920s, thanks to autos, buses, and paved roads — but the electric utilities owned by the company grew. As a result, in 1928 the New York Central sold its control of the New York State Railways system to what became the Associated Gas & Electric Co.

Receivership

Shortly after the transaction, the stock market crashed, and on December 30, 1929, the company was put into......
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